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Liquidity event at American manager comes at fraught time for industry
Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets
Swiss power company issues only five and seven year floaters
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Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.
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Hapag-Lloyd, the German container shipping firm, has signed bank facilities totalling $889m, its first foray into green financing.
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CVC’s secondary buyout of building material firm Stark Group will crank leverage back up at the group, following a tough year when previous owner Lone Star battened down the hatches and paid down debt during an initial scramble for liquidity when the coronavirus pandemic struck.
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Shurgard, one of Europe’s largest self-storage companies, has returned to the US private placement market for the third time, according to market sources. The company is only the second from Europe to launch a PP deal this year.
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Mining Industry Indonesia, a holding company for the government’s stakes in five domestic mining firms, is seeking an up to $750m borrowing from the loan market.
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Banks operating in Hong Kong are actively pushing for the adoption of alternative risk-free rates as the deadline for phasing out Libor, the old lending benchmark, approaches.
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